AUR Financial Consulting, a subsidiary of AUR Capital for Financial Consultancy, has acted as the lead manager and financial advisor in a bond issuance deal worth EGP 1.79bn for AUR Leasing. This is the second issuance under AUR’s first securitization programme.
The deal was executed in collaboration with Al Ahly Pharos, the Arab African International Bank, the Suez Canal Bank, the Dreny and Partners, and KPMG.
The bonds were issued in three tranches with different maturity periods and credit ratings. The first tranche amounted to EGP 318m with a maturity period of 24 months and a credit rating of A+ from the Middle East Credit Rating and Investors Service (MERIS). The second tranche was worth EGP 875m with a maturity period of 48 months and a credit rating of A+. The third tranche amounted to EGP 597m with a maturity period of 60 months and a credit rating of A+.
Ashraf Salman, AUR Capital’s Chairperson, expressed his satisfaction with the successful role played by the group in the issuance of bonds for AUR Leasing and Factoring. He said that this success reflects AUR Capital’s track record in concluding commercial paper deals and providing innovative financial solutions to enhance the path of economic development and develop the leasing and factoring sector. He also said that this deal represents the company’s renewed commitment to supporting the non-banking financial sector in Egypt.
Abdel Aziz El Sherbiny, Group CEO of AUR Capital, highlighted that this is another success for the financial consulting company, completing previous issuances in 2023 totaling EGP 2.914bn for AUR Leasing and Factoring and EGP 255m for AUR for Medium, Small, and Micro Enterprises Financing (Wasila).
Sahar Suleiman, Managing Director of AUR Leasing, praised the significant support provided by the Financial Regulatory Authority. She emphasized its crucial role in enhancing the position of debt issuances as a tool for liquidity provision and capital cycle financing for companies. She also affirmed that the coverage of the third issuance for AUR Leasing by financial institutions and investors reflects the investors’ interest in bonds with distinguished credit ratings and the Egyptian market’s capacity to absorb more commercial paper issuances for leasing and factoring companies.
Sherif Oteifa, CEO of AUR Securitization, noted that this issuance is the fourth since its establishment in March 2023. He said that the company aims to offer more complementary activities to support AUR Group’s issuance activity, in addition to providing issuance services for companies operating in the securities market.
Rasha El Husseiny, Head of Equity Division in AUR Capital, expressed her satisfaction with completing four commercial paper issuances in 2023, totaling approximately EGP 3.9bn. She said that she looks forward to more issuances in the coming year.
AUR Capital for Financial Consultancy is a leading company in direct investment in the Egyptian market, employing over 1,000 employees and managing assets exceeding EGP 8bn. The group holds multiple licenses in the non-banking financial sector, including leasing and factoring, project financing, consumer financing, financial consultancy, independent financial evaluation, and securities issuance. The group is close to obtaining a licence for mortgage financing and nano lending, in addition to margin lending. The group also has a financial technology arm, AUR FinTech, providing technological financial solutions for payment and collection services integrated with non-banking financial services.
